Boletim de Mercado - BNIAvenida Che-Guevara nº42-A, Bairro Maculusso - Município da Ingombota PO...
1
03 04 MATURITY 2018 - 2020 COSTS 1,50% | 2 | BNI TERM DEPOSITS 6M 12M 100K - 5M >5M - 50M >50M - 100M 100M+ AMOUNT 1M 2M 3M 10,90% 11,40% 11,90% 12,40% 11,05% 11,55% 12,05% 12,55% 11,20% 11,70% 12,20% 12,70% 11,35% 11,85% 12,35% 12,85% 11,50% 12,00% 12,50% 13,00% 05 BOND MARKET 07 MARKET ANALYSIS MARKET BULLETIN 01 02 CROSS CURRENCY MATRIX www.bni.ao PASSION FOR ANGOLA. To realise, develop and participate in Angola’s growth. This is where we apply our passion. To always do better. | 1 | USD INDEXED BOND BNI: INVESTMENT OPPORTUNITIES Source: Graphic Nº 2 Avenida Che-Guevara nº42-A, Bairro Maculusso - Município da Ingombota PO Box: 578 Luanda - Angola Fax (+244) 222 371 887 HEAD OFFICE II Avenida Pedro Castro Van-Dumen Loy Condominio Plaza - Torre A Mirantes Talatona Luanda - Angola Tel. (+244) 222 632 900 / (+244) 222 632 901 Fax: (+244) 222 371 887 Luanda - Angola Tel: (+244) 222 632 900 / (+244) 222 632 901 Condominio Plaza - Torre A Mirantes Talatona Luanda - Angola Tel. (+244) 222 632 900 / (+244) 222 632 901 Fax: (+244) 222 371 887 HEAD OFFICE I BNA announced this week that, in July 2019, foreign currency will be sold in the amount equivalent to USD 400,000,000.00 (Four hundred Million US Dollars), through price and quantity auctions. This amount is the lowest since the beginning of the year, taking into account the low level of the Net International Reserves this decrease is justified. In order to improve this scenario, Angola has to increase domestic production decreasing its dependence on imports of products for consumption and increase the number of exports, positively affecting the country's balance of payments. (Graphic nº 1). Foreign Direct Investment is one of the most effective ways to increase a country's output, and while the African continent has benefited from a 13% FDI increase in 2018, there are many countries that are afraid of investing because of lack of favorable investment conditions. For example, at the US-Africa Business Summit, Karen Kelley, Assistant Secretary of State for Trade, pointed out that trade relations between the US and Africa fell by around 62% since 2014 because of concerns about the risks and violation of the rule of law " to be in a position of greater negotiating advantage, the continent must bet on creating a more welcoming climate for private investment. " (Graphic nº 2) The Organization of the Petroleum Exporting Countries and its allies meet next week to discuss a 1.2-million-barrel cut in the second half of the year. While the three major cartel members - Saudi Arabia, Iraq and the United Arab Emirates - are willing to continue production reduction policy, Russia remains cautious, raising questions about possible policy changes. Meanwhile, numerous uncertainties obscure the prospects of the oil market. A trade dispute between the US and China is fueling fears about rising demand as rising tensions between the US and Iran have raised the geopolitical risk in the world's largest oil-producing region. According to the International Monetary Fund estimates for the price each member needs to balance their 2019 budget are shown in Graph 3 (Graphic nº 3). We can observe that Angola needs a price of approximately $ 80 / b, $ 15 dollars above the current average prices. Given the under-investment and the natural decline in the maturation of oil fields that have caused Angola's output to fall by about 350,000 barrels per day in the last four years, an extension in production cuts in the expectation of a better price for the commodity would be favorable for the country. BNI - International Finance Source: Graphic Nº 3 BT BT BT OTX OTX OTX BT - Treasury Bills - Bonds Indexed to USD OTX 91 DAYS 182 DAYS 364 DAYS 3 YEARS 4 YEARS 5 YEARS 16,15% 20,25% 23,90% 7,00% 7,50% 7,75% Graphic Nº 1 Source BNA FX SELE 01st July 2019 06 Source XECurrency Bloomberg INTERNATIONAL QUALITY CERTIFICATION Greater Security for your business, more comfort for your customers. BNA BNA FOREIGN DIRECT INVESTMENT (AFRICA) PRICE ($) PER BARREL NEEDED TO BALANCE - 2019 AOA USD GBP EUR ZAR 1 00000 , 0,00294 0,00232 0,00259 0,04147 340,262 1,00000 0,79097 0,88255 14,1108 430,182 1,26427 1 00000 , 1,11577 17,8398 385,546 1,13309 0,89624 1,00000 15,9887 24,1137 0,07087 0,05605 0,06254 1.00000 1 AOA 1 USD 1 GBP 1 EUR 1 ZAR 1 200 000 000,00 1 000 000 000,00 800 000 000,00 600 000 000,00 400 000 000,00 200 000 000,00 Jan/19 Feb/19 Mar/19 Apr/19 May/19 Jun/19 Jul/19 60 50 40 30 20 10 0 2010 2011 2012 2013 2014 2015 2016 2017 North África East África WestÁfrica Southern África Central África 300 250 200 150 100 50 0 Algeria Angola Azerbaijan Iran Iraq Libya Nigeria Russia Saudi Arabia Kuwait U.A.E Vanezuela
Transcript of Boletim de Mercado - BNIAvenida Che-Guevara nº42-A, Bairro Maculusso - Município da Ingombota PO...
03 04
MATURITY 2018 - 2020
COSTS 1,50%
| 2 | BNI TERM DEPOSITS
6M 12M
100K - 5M
>5M - 50M
>50M - 100M
100M+
AMOUNT 1M 2M 3M
10,90%
11,40%
11,90%
12,40%
11,05%
11,55%
12,05%
12,55%
11,20%
11,70%
12,20%
12,70%
11,35%
11,85%
12,35%
12,85%
11,50%
12,00%
12,50%
13,00%05
BOND MARKET
07 MARKET ANALYSIS
MARKET BULLETIN
01 02 CROSS CURRENCY MATRIX
www.bni.ao
PASSION FORANGOLA.To realise, develop and participate in Angola’s growth.This is where we apply our passion. To always do better.
| 1 | USD INDEXED BOND
BNI: INVESTMENTOPPORTUNITIES
Source:
Graphic Nº 2
Avenida Che-Guevara nº42-A,Bairro Maculusso - Município da IngombotaPO Box: 578 Luanda - Angola
Fax (+244) 222 371 887
HEAD OFFICE II
Avenida Pedro Castro Van-Dumen Loy Condominio Plaza - Torre A Mirantes Talatona Luanda - Angola
Tel. (+244) 222 632 900 / (+244) 222 632 901Fax: (+244) 222 371 887
Luanda - Angola
Tel: (+244) 222 632 900 / (+244) 222 632 901
Condominio Plaza - Torre A Mirantes Talatona Luanda - Angola
Tel. (+244) 222 632 900 / (+244) 222 632 901Fax: (+244) 222 371 887
HEAD OFFICE I
BNA announced this week that, in July 2019, foreign currency will be sold in the amount equivalent to USD 400,000,000.00 (Four hundred Million US Dollars), through price and quantity auctions. This amount is the lowest since the beginning of the year, taking into account the low level of the Net International Reserves this decrease is justified. In order to improve this scenario, Angola has to increase domestic production decreasing its dependence on imports of products for consumption and increase the number of exports, positively affecting the country's balance of payments. (Graphic nº 1).
Foreign Direct Investment is one of the most effective ways to increase a country's output, and while the African continent has benefited from a 13% FDI increase in 2018, there are many countries that are afraid of investing because of lack of favorable investment conditions. For example, at the US-Africa Business Summit, Karen Kelley, Assistant Secretary of State for Trade, pointed out that trade relations between the US and Africa fell by around 62% since 2014 because of concerns about the risks and violation of the rule of law " to be in a position of greater negotiating advantage, the continent must bet on creating a more welcoming climate for private investment. " (Graphic nº 2)
The Organization of the Petroleum Exporting Countries and its allies meet next week to discuss a 1.2-million-barrel cut in the second half of the year. While the three major cartel members - Saudi Arabia, Iraq and the United Arab Emirates - are willing to continue production reduction policy, Russia remains cautious, raising questions about possible policy changes. Meanwhile, numerous uncertainties obscure the prospects of the oil market. A trade dispute between the US and China is fueling fears about rising demand as rising tensions between the US and Iran have raised the geopolitical risk in the world's largest oil-producing region. According to the International Monetary Fund estimates for the price each member needs to balance their 2019 budget are shown in Graph 3 (Graphic nº 3). We can observe that Angola needs a price of approximately $ 80 / b, $ 15 dollars above the current average prices. Given the under-investment and the natural decline in the maturation of oil fields that have caused Angola's output to fall by about 350,000 barrels per day in the last four years, an extension in production cuts in the expectation of a better price for the commodity would be favorable for the country.
BNI - International Finance
Source:
Graphic Nº 3
BT
BT
BT
OTX
OTX
OTX
BT - Treasury Bills - Bonds Indexed to USDOTX
91 DAYS
182 DAYS
364 DAYS
3 YEARS
4 YEARS
5 YEARS
16,15%
20,25%
23,90%
7,00%
7,50%
7,75%
Graphic Nº 1
Source
BNA FX SELE
01st July 2019
06
SourceXECurrency
Bloomberg
INTERNATIONAL QUALITY CERTIFICATION
Greater Security for yourbusiness, more comfortfor your customers.
BNA
BNA
FOREIGN DIRECT INVESTMENT (AFRICA)
PRICE ($) PER BARREL NEEDED TO BALANCE - 2019
AOA
USD
GBP
EUR
ZAR
1 00000,
0,00294
0,00232
0,00259
0,04147
340,262
1,00000
0,79097
0,88255
14,1108
430,182
1,26427
1 00000,
1,11577
17,8398
385,546
1,13309
0,89624
1,00000
15,9887
24,1137
0,07087
0,05605
0,06254
1.00000
1 AOA 1 USD 1 GBP 1 EUR 1 ZAR1 200 000 000,00
1 000 000 000,00
800 000 000,00
600 000 000,00
400 000 000,00
200 000 000,00
Jan/19 Feb/19 Mar/19 Apr/19 May/19 Jun/19 Jul/19
60
50
40
30
20
10
02010 2011 2012 2013 2014 2015 2016 2017
North África East África WestÁfrica Southern África Central África
300
250
200
150
100
50
0
Algeria
Angola
Azerb
aijan Ira
nIra
qLib
ya
Nigeria
Russia
Saudi A
rabia
Kuwait
U.A.E
Vanez
uela
